Scholar Rock (NASDAQ:SRRK) Rating Reiterated by Wedbush

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a note issued to investors on Tuesday, RTT News reports. They presently have a $23.00 price objective on the stock. Wedbush’s price objective indicates a potential upside of 58.62% from the company’s current price.

A number of other brokerages have also issued reports on SRRK. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Scholar Rock in a research note on Tuesday, March 19th. Raymond James started coverage on shares of Scholar Rock in a research note on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 target price on the stock. Piper Sandler reissued an “overweight” rating and issued a $28.00 price objective on shares of Scholar Rock in a research note on Tuesday, March 26th. Finally, Truist Financial reaffirmed a “buy” rating and set a $20.00 target price on shares of Scholar Rock in a research report on Wednesday, April 3rd. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $25.17.

Scholar Rock Stock Performance

NASDAQ:SRRK opened at $14.50 on Tuesday. The company has a current ratio of 8.80, a quick ratio of 8.80 and a debt-to-equity ratio of 0.22. Scholar Rock has a 12-month low of $5.56 and a 12-month high of $21.17. The stock has a 50-day moving average price of $15.15 and a 200 day moving average price of $14.95. The stock has a market capitalization of $1.16 billion, a P/E ratio of -7.29 and a beta of 0.94.

Scholar Rock (NASDAQ:SRRK) last announced its earnings results on Tuesday, May 7th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.11). During the same quarter last year, the firm posted ($0.46) earnings per share. Equities research analysts forecast that Scholar Rock will post -2.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jay T. Backstrom sold 11,614 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $182,804.36. Following the completion of the transaction, the chief executive officer now directly owns 352,671 shares of the company’s stock, valued at approximately $5,551,041.54. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Jay T. Backstrom sold 11,614 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total transaction of $182,804.36. Following the completion of the sale, the chief executive officer now owns 352,671 shares of the company’s stock, valued at $5,551,041.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Junlin Ho sold 3,489 shares of Scholar Rock stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.74, for a total transaction of $54,916.86. Following the completion of the transaction, the general counsel now directly owns 208,771 shares in the company, valued at $3,286,055.54. The disclosure for this sale can be found here. Insiders sold 22,359 shares of company stock valued at $351,931 over the last 90 days. Corporate insiders own 26.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Several institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank boosted its stake in Scholar Rock by 52.8% in the 3rd quarter. Amalgamated Bank now owns 4,217 shares of the company’s stock worth $30,000 after purchasing an additional 1,458 shares in the last quarter. Silverarc Capital Management LLC purchased a new stake in shares of Scholar Rock during the third quarter valued at $69,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Scholar Rock in the 3rd quarter valued at $88,000. SG Americas Securities LLC purchased a new position in Scholar Rock in the 3rd quarter worth $153,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in Scholar Rock by 479.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,346 shares of the company’s stock worth $157,000 after acquiring an additional 6,905 shares during the period. Institutional investors and hedge funds own 91.08% of the company’s stock.

Scholar Rock Company Profile

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery, development, and delivery of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company develops Apitegromab, an inhibitor of the activation of myostatin that is in Phase 3 clinical trial for the treatment of spinal muscular atrophy; and SRK-181, which has completed Phase 1 clinical trials for the treatment of cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1 antibody therapies.